During the early
spring of 1957, Margaret Pilkington and John Marean, members of
the Reno Classroom Teachers Credit Union, spoke to a small group
of governmental employees gathered in the multipurpose room at West EndSchool. Charlie York, the County Extension
Agent and brother of Mrs. Pilkington, had asked them if they would
come to Fallon to explain to us the advantages of forming a credit
union in ChurchillCounty.At
the meeting were employees of the School District, the City, the County, the Telephone
Company, and the Extension Office.
John explained to those attending how a credit union worked and
how to go about forming one. The idea of a credit union appealed
to those in attendance so on May
another meeting was held to sign an Organizational Certificate for
the Churchill County Federal Credit Union whose charter number would
be 11824. This charter was approved by the proper authority on June 18,
The Reno Classroom
Teachers Credit Union allowed us to temporarily affiliate with them
since our assets would be insufficient to give loans. An organizational
meeting was held on October
to elect officers and to begin functioning independently from the
Reno Classroom Teachers Credit Union. Mae Lofthouse was elected
as the first treasurer and was given a salary of $5 per month. The
October statement showed a share balance of $90.00.
The annual report
showed a total of 16 members which is quite a difference from the
approximately 3,000 members today.
In January, 1958,
a check was received from the Reno Teachers Classroom Credit Union
in the amount of $1,528.66. This check transferred member shares
to the Churchill County Federal Credit Union and from then on we
were on our own.
earlier, Mae Lofthouse was the first treasurer and served
from October, 1957 to October, 1958. Frances Ham succeeded Mrs.
Lofthouse and served until May, 1961. At that time the credit union
was fortunate in employing Dawna Johnson as treasurer for a monthly
salary of $15.00. Dawna remained the treasurer for over twenty-two
years, eventually retiring June
The share balance
when Dawna became treasurer was $15,260.00 and during her tenure
grew to $1,341,000. The office was in her home and during the later
years the road leading to her house was very busy being used by
the 872 members.
retirement, Marcia Parrish accepted the position of treasurer. An
office was opened in town in a small room behind Ray Regan's C.P.A.
business. The credit union continued to grow rapidly during Marcia's
tenure and the share accounts grew
to over $15
million by the time she retired from the
credit union in January of 2001. Through the years Marcia
maintained the personal touch that was set forth by our originating
When the credit
union first began operating on its own, the maximum loan allowed
was $150.00. This, of course, was to allow several members the opportunity
to borrow. Without that limitation one person could easily have
borrowed all available monies. Today there is no limit and with
the proper security, loans in excess of $50,000 have been made.
A memorable day
in the year 1985 was the changeover from manual bookkeeping to computer!
Before computers, many hours were spent running adding machines and trying to make
totals balance. At statement time, the husbands of Dawna and Marcia
were drafted to help out and many a New Year's Eve was spent working
instead of celebrating.
1989, credit union
opening of their new office building located at
667 South Maine Street. This was
a culmination of much dreaming and planning. When the few originators of our credit union
gathered at that May meeting in 1957 to apply for a charter, none
dreamed that what they were giving birth to would become what it
1957 to the present Churchill County Federal Credit Union has been
here to serve our members saving and loan needs with the same personal
touch that our originating members set forth.
A debt of gratitude
is due the many unpaid members who have given their time to serve
on the Board of Directors, the Credit Committee, or the Supervisory
Committee.All they have done is evidenced by the healthy
condition of the Churchill County Federal Credit Union today.